[Asia Economy Reporter Bu Aeri] As the average annual salary of employees at major commercial banks has reportedly exceeded 100 million KRW, attention has turned to the salaries of the chairpersons of the four major financial holding companies.
According to the quarterly reports of each company on the 23rd, Ham Young-joo, the current chairman of Hana Financial Group, received a total of 1.079 billion KRW as of the first half of last year, including a salary of 369 million KRW and a bonus of 709 million KRW.
Former Hana Financial chairman Kim Jung-tae received 4.278 billion KRW. Kim, who retired in March last year, received a special merit payment of 2.5 billion KRW, a salary of 11 million KRW, a bonus of 1.147 billion KRW, and retirement pay of 420 million KRW.
Son Tae-seung, chairman of Woori Financial Group who has declared his retirement, received a total of 774 million KRW, consisting of a salary of 425 million KRW and a bonus of 349 million KRW.
Yoon Jong-kyu, chairman of KB Financial Group, received a total of 650 million KRW, including a salary of 450 million KRW and a bonus of 200 million KRW.
Cho Yong-byeong, chairman of Shinhan Financial Group, was excluded from disclosure as his total compensation for the first half of last year was less than 500 million KRW.
Looking at the annual figures, in 2021, former chairman Kim received 2.406 billion KRW, and Chairman Yoon received 1.726 billion KRW.
Chairman Son received 1.112 billion KRW, and Chairman Cho received 839 million KRW.
The annual salaries of the four major financial holding company chairpersons are likely to increase compared to the previous year. This is because the four major holding companies recorded record-high earnings during the high-interest-rate period, reflecting performance bonuses accordingly.
Meanwhile, the average annual salary of employees at the five major commercial banks all exceeded 100 million KRW, and the average salary of the top 10% of employees approached 200 million KRW.
In 2021, the average total compensation (including performance bonuses) of employees at the five major commercial banks?Kookmin, Shinhan, Hana, Woori, and Nonghyup?exceeded 100 million KRW for the first time across all companies.
Kookmin Bank had the highest average at 110.74 million KRW, followed by Shinhan Bank at 105.29 million KRW, Hana Bank at 105.25 million KRW, Woori Bank at 101.71 million KRW, and Nonghyup Bank at 101.62 million KRW.
In 2021, the average salary of the top 10% of employees approached 200 million KRW.
Kookmin Bank was at 197.84 million KRW, Hana Bank at 195.53 million KRW, Shinhan Bank at 192.27 million KRW, Woori Bank at 185.27 million KRW, and Nonghyup Bank at 178.31 million KRW.
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